Jonathan challenges banks to fund infrastructure development

President Goodluck Jonathan on Monday in Abuja challenged banks in the country to fund infrastructure development in Africa.

The president speaking to the Group Chief Executive Officer and Managing Director of Ecobank Transnational Inc., Mr Thierry Tanoh, at the State House said “We need banks that can fund infrastructure development in Africa.

“For instance, we should not go to Europe before coming to neighbouring countries because our transport infrastructure is weak,’’ he said.

The president said the private sector must play a more robust role to quicken the development of the continent.

Earlier, Tanoh had told the president that Ecobank was formed in response to a challenge by the ECOWAS Chamber of Commerce.

He said the bank was celebrating its 25th anniversary of operations and wanted more equity investments from the region.

He said Ecobank was ready to support the planned construction of the Lagos-Abidjan highway.